date:Jan 05, 2016
2.5 years, investment across the sector has declined, and cane and beet area have contracted.
A production response to the recent upward correction in prices is not expected until the 2016-17 season, led by the European Union and China. Deficit balances are expected to be the new norm over the coming years.
However, the drawdown on near-record-large world stocks will take some time, and higher prices weigh on demand.
Societe Generale
While we continue to see some additional downside risk to